Private equity firm Carlyle Group LP (CG.O) unveiled a $200 million share buyback plan on Wednesday as it posted weaker-than-expected fourth-quarter earnings amid volatile financial markets.
Carlyle's economic net income (ENI), which accounts for unrealized gains or losses, stood at $73 million between October and December before taxes, less than half of the $181 million earned a year ago.
That translated into post-tax income of 24 cents a share, missing analysts' forecast for earnings of 30.8 cents.
David Rubenstein, co-chief executive officer at Carlyle, said the share buyback plan reflected "the great value" that the company sees in its own stock, in contrast to the financial market which "ascribes little value" to Carlyle's business.
Carlyle stock has been the worst performer among its peers and is down over a quarter this year.